The Australian Government expects its mining and energy export revenues to surge by 3% to a record A$419 billion in the year to June 2023, while coal and gas prices remain strong in the wake of Russia’s invasion of Ukraine. Western sanctions on Russian energy products...
The UK Government has today announced sanctions on Russian oligarch Vladimir Potanin – known as the country’s ‘nickel king’ – in a move aimed at further punishing President Vladimir Putin’s inner circle amid the ongoing invasion of Ukraine. Potanin, considered Russia’s second richest man with a...
Canada’s Natural Resources minister told delegates at the 2022 PDAC convention yesterday that Russia’s invasion of Ukraine and the fragility of global supply chains have ‘heightened’ the importance of critical minerals. Minister Jonathan Wilkinson described the transition to net zero as a ‘competitive race’ between the...
Canada will today announce a multi-million dollar investment in BHP’s Jansen potash project which will enable it to become ‘the cleanest and most sustainable in the world’, according to a government source. The investment will support BHP’s ambition to electrify its fleet of vehicles and equipment...
BHP chief executive Mike Henry is pushing for an early start at the company’s US$5.7 billion Jansen potash project in Canada, amid fears of global food and fertiliser shortages exacerbated by Russia’s invasion of Ukraine. The continuing conflict in Ukraine has interrupted global grain supply coming...
The world’s second largest gold producer - Barrick Gold - yesterday doubled its quarterly dividend after beating analyst estimates for profit, largely due to higher gold and copper prices in the period. Barrick’s Q1 revenue of US$2.9 billion was actually 3% lower than the corresponding quarter...
Canada’s Kinross Gold Corp is talking to an unnamed third party mining company with regards to the acquisition of all of its Russian assets, as the gold giant seeks to fall in line with Western sanctions on Russia amid the invasion of Ukraine. However, Kinross noted...
Ongoing price spikes across the metals and mining sector could have an enduring negative impact on the commodities market, according to Wood Mackenzie vice president Robin Griffin. A range of factors including the Russia-Ukraine conflict, thriving post-pandemic demand and continuing covid constraints on logistics have put...
The International Copper Study Group (ICSG) has found that the deficit in the global refined copper market reduced faintly to 475,000 tonnes last year, compared to a 484,000 tonnes shortfall in 2020. In a new report, the ICSG said mine production grew by around 2.3% in...
Rio Tinto has announced it will sever all ties with its Russian businesses in the wake of President Vladimir Putin’s continuing invasion of Ukraine. Rio is the first major mining company to join a growing cluster of Western businesses shunning Russian assets and suspending operations in...